The towers will be 38-40 floors in height. One tower will be an office block and the other will be a five-star hotel.
They will be located near the Corinthia Bab Africa Hotel, behind the iconic That el-Emad towers. The project is worth an estimated Eur600mn ($880m).
The design of the towers has yet to be finalised and it is not clear how large an area they will occupy.
The towers are due to be completed in 2012.